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Has anybody noticed any changes regarding CC applictions recently due to COVID 19? I have been getting pre-approvals last few months for the BBVA Clear Points card and finally decided to apply last night for the SUB but when I go the page, the "APPLY ONLINE" link doesnt work. Tried it from both by phone and work computer so its not a browser issue; its a smaller issuer I am not that surprised(and it definitely beats getting a hard pull and a rejection). I already have 2 Amex Cards(Cash Magnet and EveryDay Blue) with a $24.5 K combined limits and about 1.5K balance on a 0% fee Plan It plan so was thinking about going for another Amex personal card since that would not result in a hard pull. I dont think I would get enough credit on a 3rd Amex card to put me into Financial review territory butt that it was I held off on another Amex application, and if i DID get say 11K or more I guess I could always call right in and reduce the credit line on one of my other cards to get below $35K
Any thoughts/suggestions? I am past 5/24 on Chase(already have both Freedom Cards) and already have Wells Fargo Propel and Cash Wise, BOA Cash Rewards, Citi Rewards+, TD Cash Rewards, CapOne Quicksilver, Discover, Amalgamated Bank of Chicage Platinum Rewards along with a couple smaller cards. I am basically looking for a SUB and hopefully decent rewards. Wasnt a big traveler even before all this so not really looking for travel cards unless can convert to cash/statement credit at good rate(BOA Travel Rewards?)
Im sure this virus will affect future applications but by how much no one knows.
I just want to add do not assume that because you have 2 Amex cards any further applications with them will be sp. Ive been hard pulled on my last 2 applications and im a current Amex card holde . YMMV always and they can hp even the best of profiles.
Thanks for the rely... I had read that they only do SP for current card holders, and that WAS the case when I applied for the Cash Magnet over a year ago but obviously not always the case. But even if I do get a HP I am no worse off that if I applied elsewhere so no real downside. They keep sending me pre-approvals for business card(which I am not eligible for) and high AF cards which are still showing on my AmEx page today so I fell pretty good about my chances for another AmEx card.
Thanks again for the info
Go for the Amex if there's one that interests you. It will likely be a SP (though YMMV). There's no reason to think covid wil impact your ability to be approved.
@seattletravels wrote:Go for the Amex if there's one that interests you. It will likely be a SP (though YMMV). There's no reason to think covid wil impact your ability to be approved.
Well, I would think there is every reason to assume that all issuers are going to be much more concerned about the economy than back in those innocent pre-pandemic days! So while they won't be singling out the OP on that basis, I would expect that UW might well tighten, leading to more rejections and/or lower SLs
@longtimelurker wrote:
@seattletravels wrote:Go for the Amex if there's one that interests you. It will likely be a SP (though YMMV). There's no reason to think covid wil impact your ability to be approved.
Well, I would think there is every reason to assume that all issuers are going to be much more concerned about the economy than back in those innocent pre-pandemic days! So while they won't be singling out the OP on that basis, I would expect that UW might well tighten, leading to more rejections and/or lower SLs
I dont know. Check out the Approval section of this forum. Theres nothing that indicates this is currently impacting approvals.
Even in 2008 lenders were approving people whose profile supported it. They were just less likely to approve borderline.
As long as you still have a pulse, job, and no serious negatives, I'm sure you're still eligible.
Credit should be available. The gov mentioned part of the stimulus keeping credit flowing. I could see them cutting back on huge limits except for those that have proven they can support it so maybe more cautious but still available
just guesses on my part though
@seattletravels wrote:
@longtimelurker wrote:
@seattletravels wrote:Go for the Amex if there's one that interests you. It will likely be a SP (though YMMV). There's no reason to think covid wil impact your ability to be approved.
Well, I would think there is every reason to assume that all issuers are going to be much more concerned about the economy than back in those innocent pre-pandemic days! So while they won't be singling out the OP on that basis, I would expect that UW might well tighten, leading to more rejections and/or lower SLs
I dont know. Check out the Approval section of this forum. Theres nothing that indicates this is currently impacting approvals.
Even in 2008 lenders were approving people whose profile supported it. They were just less likely to approve borderline.
IMO, very strong profiles have increased likelihood of approval, and weak profiles have decreased likelihood.
Try BB&T they have a pre qual site and SP. I used it was approved for 3 of there cards.....pulled the trigger on 2 of them last month and zero hard pull. I got the BVAA clear card too. That was a HP....got the invite thingy in the mail and applied online. If online doesn't work you can call and do it.
@pete19103 wrote:Has anybody noticed any changes regarding CC applictions recently due to COVID 19? I have been getting pre-approvals last few months for the BBVA Clear Points card and finally decided to apply last night for the SUB but when I go the page, the "APPLY ONLINE" link doesnt work. Tried it from both by phone and work computer so its not a browser issue; its a smaller issuer I am not that surprised(and it definitely beats getting a hard pull and a rejection). I already have 2 Amex Cards(Cash Magnet and EveryDay Blue) with a $24.5 K combined limits and about 1.5K balance on a 0% fee Plan It plan so was thinking about going for another Amex personal card since that would not result in a hard pull. I dont think I would get enough credit on a 3rd Amex card to put me into Financial review territory butt that it was I held off on another Amex application, and if i DID get say 11K or more I guess I could always call right in and reduce the credit line on one of my other cards to get below $35K
Any thoughts/suggestions? I am past 5/24 on Chase(already have both Freedom Cards) and already have Wells Fargo Propel and Cash Wise, BOA Cash Rewards, Citi Rewards+, TD Cash Rewards, CapOne Quicksilver, Discover, Amalgamated Bank of Chicage Platinum Rewards along with a couple smaller cards. I am basically looking for a SUB and hopefully decent rewards. Wasnt a big traveler even before all this so not really looking for travel cards unless can convert to cash/statement credit at good rate(BOA Travel Rewards?)